Now female entrepreneurs in Canada have one more source of small business funding available to them.
Canadian companies SheEO and FreshBooks have created Act of Radical Generosity, a new initiative that aims to “dramatically transform how we support, finance and celebrate female entrepreneurs.”
Drawing from a pool of money contributed by 1,000 women, Act of Radical Generosity will “collectively select 10 women-led ventures and provide them with zero percent interest loans for five years.”
Do you need to raise more funds than you can get through “love money” from family or friends, but don’t need as much as venture capitalists invest? Your small business may be ready for an angel. Angel investors are well-to-do people who invest money, usually their own, in start-up ventures. For that investment, they often get a portion of the ownership of the business.
So what do angel investors like?
How to find angel investment in Canada
The secret to finding individual investors is through networking. Communicate regularly with business community members who are in touch with angel investors like lawyers, accountants, bankers and other business owners.
You may also want to investigate one of the angel networks that operate across Canada. Here are a few:
Happy pitching!
“Where do I get the money to start my business?” is perhaps the most common question entrepreneurs ask.
However, we believe entrepreneurs should really be asking, “What is the best kind of funding for my business?”
There’s no one-size-fits-all solution when it comes to getting funding for your small business. There are many sources, varying amounts, and of course you must ensure the funding you have your eye on is actually suitable for your small business.
Here are a few things that you should keep in mind when you’re working on your small business funding plan:
Why spend time and money calling around for financing for your business? Wouldn’t it be easier to be matched with the best funding sources at the click of a mouse? Canadian entrepreneurs now have a way to find and filter opportunities on their terms. Fundica is an online tool that matches entrepreneurs with smart, comprehensive and up-to-date funding – and it’s free.
Fundica has changed the way Canadian businesses find funding with their proprietary search tool and software that matches Canadian entrepreneurs with grants, tax credits, loans and equity. It filters by exact location, company size, sector and many other criteria, to make sure small business owners are getting the exact kind of funding partner they’re looking for. Fundica’s database covers over 90% of the government and institutional private sector direct funding programs/products available to Canadian businesses. Pretty cool, if you ask us.
Fundica was founded by a team of funding experts in 2010, after years of experience helping entrepreneurs find financing from public and private sources. The people behind Fundica are computer science, tax, finance and funding professionals who have collectively raised over $75 million of government and private funding, and have over 50 years combined experience in funding Canadian businesses. All this hard work means that they have strong working relationships with and an in-depth understanding of public and private funding sources.
For more information or to get started, visit Fundica’s website.